St. Martin's Episcopal Church |
First Quarter 2009 Financial Summary
Lloyd Woods , Treasurer
Year-to-Date Year-to-Date Variance From Annual
Actual Budget Budget Budget
Revenue $171,040* $155,125 $ 15,915* $620,500
Expenses 165,346 176,840 11,495 667,360
Net $ 5,694* $(21,715) $ 27,410* $ (46,860)
( ) = Expenses exceed Income
* Includes approximately $25,000 in prepaid pledges
Your
vestry’s goal for the 2009 budget was to balance the budget
without sacrificing positions, programs or projects in a year when the
economy is plagued with uncertainty and financial hardship for many.
We almost
met that goal. The budget does include funds for the assistant rector
for the full year (vs. a half year in 2008), an increase in our
diocesan pledge, and funding for all programs and projects. However, to
accomplish these objectives required a budget deficit of almost $47,000.
For
the first quarter our revenues exceeded expenses by $5,694. We will
continue to carefully monitor expenses and take whatever actions are
required to ensure that we complete the year within our budget. With
your continued support thorough additional and increased pledges as
well as other financial contributions, we hope to finish the year with
our revenues equal to or exceeding expenses.
Endowment Information
By Jim Pierce
For those of you who attended the Adult Forum on April 26th,
information was provided concerning a change in your will if you have
been considering making a gift to St Martin’s. For those of you
who were unable to make the meeting; during the month of May, you can
change your will to make a gift to St Martin’s of at least $5000,
free of any charges. Leave a Legacy Foundation has
enlisted the help of 5 prominent Williamsburg attorneys who will make a
change to your will, free of charge, as long as you want to make a gift
of at least $5000 to any charity in Williamsburg. St Martin’s
qualifies for this opportunity. If you are interested, please contact
Leave A Legacy at 259-1660 or contact Jim Pierce at 258-4643.